During claim settlement, you have to bear the depreciation on certain car parts. This results in additional expenses at your end. Depreciation Shield protects you from these additional expenses.
- 1. Depreciation Shield Your vehicle is as good as new!
- 2. YEAR 1 % In case of a claim, insurance companies apply the depreciation rate to arrive at the amount payable for a specific damaged part YEAR 2 YEAR 3 DEPRECIATION is the rate at which the value of your vehicle parts reduce as the vehicle ages
- 3. The difference between the depreciated value and the market cost of buying a new part is borne by the insured.
- 4. DEPRECIATION SHIELD covers the Depreciation Amount on the Damaged Parts that are allowed for Replacements
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